Tesla Now Worth More than GM and Ford Combined

[Honky Tonk]

I wish someone would give me a simple answer to this:

If I have a Tesla, and wish to drive from my home here in Henderson, NV, to visit family in metro Detroit, how many stops do I have to make, and how long is each stop for? Not counting an overnight in Vega, TX, or Springfield, IL.

I'd say that probably depends on you, your bladder, and how many sodas you're having.

[Ray1936]

I'd say that probably depends on you, your bladder, and how many sodas you're having.

Never travel without a P cup.

[wazootyman]

In less than two weeks, Tesla stock goes up another 25%?? It had a high of over $2,500, while closing at $2,491.60 today [[pre 5-1 stock split) $498.32 post split. Ford went down 2 cents to $6.82. How are they allowed to get away with this??

It's best to sit back and watch. My thought is that this won't end well.

[enio]

I'm attaching an email from Rivian describing legislation that would effectively ban EV companies from doing business in Michigan.

https://www.rivianforums.com/forum/t...servicing.715/

Text of HB 6233

http://www.legislature.mi.gov/docume.../2020-HIB-6233.

Michigan must really be desperate if they are willing to force a new auto company like Rivian from doing business in the state.

Even though the Detroit legacy manufacturers would prefer to limit competition, electric cars and trucks are continuing to make inroads world wide. See --

https://www.nytimes.com/2020/09/20/b...-elon-musk.htm

BTW, it may only be a coincidence, but the House vote will occur on Tesla Battery Day. Fortunately, Michigan Luddites can only slow, not stop the death spiral.

[Hermod]

In less than two weeks, Tesla stock goes up another 25%?? It had a high of over $2,500, while closing at $2,491.60 today [[pre 5-1 stock split) $498.32 post split. Ford went down 2 cents to $6.82. How are they allowed to get away with this??

One thing that amazes me is that two stocks in the doldrums [[GE and Ford) are both selling at six bucks and change, yet day in and day out, you will find one or both of them on the list of most actively traded stocks even though their gains/losses are pennies a share.

[iheartthed]

I'm attaching an email from Rivian describing legislation that would effectively ban EV companies from doing business in Michigan.

https://www.rivianforums.com/forum/t...servicing.715/

Text of HB 6233

http://www.legislature.mi.gov/docume.../2020-HIB-6233.

Michigan must really be desperate if they are willing to force a new auto company like Rivian from doing business in the state.

Even though the Detroit legacy manufacturers would prefer to limit competition, electric cars and trucks are continuing to make inroads world wide. See --

https://www.nytimes.com/2020/09/20/b...-elon-musk.htm

BTW, it may only be a coincidence, but the House vote will occur on Tesla Battery Day. Fortunately, Michigan Luddites can only slow, not stop the death spiral.

Pretty sure the auto dealers are the ones behind this, not the automakers. It is unfair that the traditional automakers have to abide by state dealer distribution laws, while Tesla can sell directly to consumer. But the model was always flawed, and it was the dealers who had it set up this way. If those laws get overturned, a lot of local dealerships would eventually go out of business.

[davewindsor]

Tesla closes at $1,516.80/share, while Ford closes at $6.36 today? Whaat?? A year ago, Tesla was trading at $240/share. Has the stock market turned into a hacked online game?? That puts Tesla at a market cap of $281 Billion. The Big Three combined has a market cap of $82.7B. Tesla is now worth over three times what the Big Three is worth?? Even Elon Musk on May 1st tweeted that at $760.23 Tesla was overpriced. Where is this money coming from?? I hope pension funds aren't going to get wiped out over this when the market crashes.

Today, Tesla has a high of $881.39/share. Pre 5 to 1 stock split makes it worth $4,406.95 [[up from $240/share a year and a half ago). So Tesla is at a valuation of $838Billion, while Ford is valued at $8.94/share [[a $35Billion valuation). Tesla is now worth more than all auto companies in the world combined. How is that even possible??

Michael Burry, the investor who predicted the 2008 US housing market crash and took a billion-dollar shorting bet prior that they made a movie on called "The Big Short", took a huge short position on Tesla predicting a similar downfall. Is he right? Tesla stock just keeps going up and up. Is the US headed for a big dot com bailout like the mortgage crisis bailout for all the pension funds that invested in Tesla?

[401don]

Today, Tesla has a high of $881.39/share. Pre 5 to 1 stock split makes it worth $4,406.95 [[up from $240/share a year and a half ago). So Tesla is at a valuation of $838Billion, while Ford is valued at $8.94/share [[a $35Billion valuation). Tesla is now worth more than all auto companies in the world combined. How is that even possible??

Michael Burry, the investor who predicted the 2008 US housing market crash and took a billion-dollar shorting bet prior that they made a movie on called "The Big Short", took a huge short position on Tesla predicting a similar downfall. Is he right? Tesla stock just keeps going up and up. Is the US headed for a big dot com bailout like the mortgage crisis bailout for all the pension funds that invested in Tesla?

I heard yesterday that makes Musk the richest guy in the world, ahead of Bezos.